Frontline Jumps in Oslo After Buying Stake in OSG

Wednesday, March 26, 2008

Frontline Ltd., the oil-tanker owner, advanced the most in 22 months in trading after buying a stake in a rival shipping company.
Frontline acquired 5.2 percent of New York-based Overseas Shipholding Group Inc., known as OSG, on March 20. , Bermuda-based Frontline agreed to purchase an additional 1.37 million shares, or 4.4 percent, on May 29.
Frontline climbed 8.1 percent, the most since May 23, 2006, to close at 234.5 kroner, narrowing its year-to-date decline to 9.3 percent. Today was the first day of trading since March 19.
Fredriksen is holding talks with OSG's biggest shareholders about a cash offer for the company's tankers, financed by a share sale, the financial daily Dagens Naeringsliv reported, citing unidentified people.

Source:  Bloomberg

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Top Ships Enters 3 New Charters

TOP Ships Inc., an international owner and operator of modern, fuel efficient "ECO" MR tanker vessels focusing on the transportation of petroleum products, announced

US Crude Oil Exports Hit 15-year High

U.S. crude oil exports reached 288,000 barrels per day (bpd) in May, the highest levels since April 1999, data from the U.S. Energy Information Administration showed on Wednesday.

Iraqi Kurdish Pipeline Stopped; Tanker in Limbo off Texas

Iraqi Kurdistan's attempts to export oil independently of Baghdad hit another obstacle on Wednesday, as a Turkish energy official and industry sources said the

Finance

Hornbeck Offshore Ride High on Q2 2014 Results

Hornbeck Offshore Services, Inc. has announced its financial results for the second quarter ended June 30, 2014.  Following are highlights for this period and excerpts

BAE Systems Awarded Two Navy Contract Modifications

The US Department of Defense informs it has awarded separate contracts to BAE Systems in Jacksonville and in Norfolk for ship repairs and modifications as follows: 1.

Exxon Mobil Corporation Declares 3Q Dividend

The Board of Directors of Exxon Mobil Corporation yesterday declared a cash dividend of 69 cents per share on the Common Stock, payable on September 10, 2014 to

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Pod Propulsion Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1428 sec (7 req/sec)